Hyundai Green Food (A453340) Q3 2024 earnings summary

Executive summary

• Achieved record quarterly results with operating profit of ₩383 billion and margin of 6.4% for 3Q24, driven by strong core business and overall profitability improvement.

• Overseas food service subsidiaries operated profitably, with 3Q24 overseas sales of ₩97 billion.

Financial highlights

• Consolidated 3Q24 revenue rose 4.7% year-over-year to ₩601.6 billion; operating profit up 35.3% to ₩38.3 billion.

• Net income for 3Q24 increased 39% year-over-year to ₩30.5 billion; gross margin improved to 19.1%.

• Year-to-date consolidated revenue grew 4.5% to ₩1,703.5 billion; operating profit up 17.8% to ₩102 billion.

• Standalone 3Q24 revenue up 5.4% year-over-year to ₩587 billion; operating profit up 37.4% to ₩33.7 billion.

Outlook and guidance

• Sustained demand in institutional catering due to rising dining-out prices and robust upstream industry conditions.

• New restaurant openings and successful holiday set sales expected to support future growth.